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National flood program extended seven days


The National Flood Insurance Program will get another temporary reprieve.

The U.S. House of Representatives and the Senate approved late Thursday a seven-day extension that will carry the program through to Dec. 7. The program would have expired on Friday. The Senate also passed a six-month reauthorization on Thursday, but that would still need to be approved by the House.  

In July, Congress passed a four-month extension just hours ahead of a deadline to reauthorize the program.The National Association of Realtors (NAR) has estimated that a lapse would disrupt roughly 40,000 home closings per month.

“NAR is relieved that authorization of the National Flood Insurance Program has not lapsed, as Congress moved last night to extend the program through December 7, and we urge the House and Senate to swiftly and purposefully work towards a more sustainable extension over the coming week,” NAR Senior Vice President of Government Affairs Shannon McGahn said in a statement. 


 

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